What is the best wallet for storing Bitcoin?

[dzungmobile]

For convenience and if you don't want to use a decent hardware wallet (don't use Ledger crap)

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devide your bitcoins into a hot wallet that holds a small amount you could afford to loose by malware or hacking.

Storing small part of capital into some different hot wallets that are stored on different devices. If I have one laptop, one smart phone, I will create two hot wallets and store one wallet on each of two devices.

With hot wallets, risk is bigger than cold wallets but make sure to use strong passwords to protect bitcoins in these hot wallets better.
Password managers
[GUIDE] How to Create a Strong/Secure Password

Larger value goes to cold storage or a hardware wallet.

True.

[tech30338]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

As long as you have full control, its okay, you can also use hardware wallet if you have funds to buy one, but for now if its not that big of an amount trust wallet is also okay, but try to invest for hardware wallet if its getting bigger, since what other says and also since i have hardware wallet its way better.

[aylabadia05]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Hardware wallet or cold wallet. If to store assets in small amounts, software wallets for small transaction payments, wallets like bluewallet can be used.
I do not recommend Trust Wallet for use even though the amount of assets is not much. Using Trust Wallet is not right in my opinion what you have done. Switch now.

[Faisal2202]

Trustwallet is a hot wallet. Cold wallets (e.g hardware wallets) are better (way more secure) especially if you're holding large sums of money.

Do you have a reference to a thread that discusses it in a complex way? I want to know more, I'm sure here I can get deeper insight than just reading in news outlets about crypto.

I have some threads in mind, which might help you to get an idea about all kinds of wallets. Things to keep in mind before accumulation of Bitcoin This article has a part where the OP explained about types of wallets that are best to hold BTC. And you will find another link within this article which is --> [Crypto Wallets] Cold and Hot Wallets and their Approach. This is also comprised of good wallets. I prefer you to read some replies as well because they can give you a better idea.

If you want to know more about wallets, especially for BTC only then this board is for you --> https://bitcointalk.org/index.php?board=37.0 But if you want to get a list of available wallets for you on some type of preference then give your data here and the site will give you good recommendations --> https://bitcoin.org/en/choose-your-wallet?

[RockBell]

As long as you have full control, its okay, you can also use hardware wallet if you have funds to buy one, but for now if its not that big of an amount trust wallet is also okay, but try to invest for hardware wallet if its getting bigger, since what other says and also since i have hardware wallet its way better.

Control is the most important thing that you need when trying to store your bitcoins and the problem with hardware wallet is not everyone can afford it. Whales use hardware wallet because the safety of their assets is their priority you won’t see any whale keeping their funds in an exchange because they know the dangers that it comes with starting from security what if the exchange go bankrupt it will affect you so many reasons you should not keep your money in an exchange and their are other wallets that are safe as far as you don’t give out the deed  phrase to anyone what ever wallet you might be using, make sure the seed phrase is kept safe that is all that matters as far as you are not keeping your money in an exchange am okay with that. Some people are still finding it hard to know the importance of seed phrase.

[Coyster]

As long as you have full control, its okay, you can also use hardware wallet if you have funds to buy one, but for now if its not that big of an amount trust wallet is also okay,

Trust wallet is a non-custodial wallet and it gives you control over your assets, but it is a closed source wallet and that does not make it a good option to keep your assets. Someday there could be a bug or vulnerability in trust wallet that will cause you to lose your money if you use it, just as it happened with Atomic wallet, because people cannot verify its code; thus it is never a good thing to use a closed source wallet, and trust wallet is one.

[AprilioMP]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

Why should you use a Trust wallet when a wallet similar to the Trust wallet that supports more coins such as the Unstoppable wallet is better to use.
Unstoppable wallet open source. The features are many. No matter how good a wallet like unstoppable is, it is categorized as a less secure wallet because it still has access to the internet.

Wallets that are connected to the internet are called hot wallets and there is no guarantee that assets will be safe, let alone errors in the initial installation process. Cold wallets are safer because they are not connected to the internet. Wallets that do not have access to the internet are more secure against attacks, such as hardware wallets, thus providing a sense of security for users from online crime.

Hopefully you can find the answer to which wallet is better to use as asset storage.

[Onyeeze]

I think that this question has repeated itself severally in this place so we should do know by now the wallet that is best to us to store our Bitcoin including other coins that I have to do with the cryptocurrency we should have known the best one through a research making before we ask I think that everything that we need to prosper or to know very well of Bitcoin is in the internet so all this kind of questions has been a repeated one and the many people has answered this kind of question with a different reasons, but nevertheless Electrum is a good wallet we should have use.

[Publictalk792]

Trust wallet is a non-custodial wallet and it gives you control over your assets, but it is a closed source wallet and that does not make it a good option to keep your assets. Someday there could be a bug or vulnerability in trust wallet that will cause you to lose your money if you use it, just as it happened with Atomic wallet, because people cannot verify its code; thus it is never a good thing to use a closed source wallet, and trust wallet is one.

You are right that Trust Wallet is not best choice for storing your money because it is closed source. This means that nobody can check code to make sure it is safe. If there is mistake or weakness in code you could lose your money like what happened with Atomic Wallet. On the other hand open source wallets are safer because many people can check the code and make sure it is secure. So it is usually best to use an open source wallet to keep your money safe.

[Darker45]

You aren't in the "right type of wallet" to store your Bitcoin. I suppose storing means your coins there aren't for spending. But even if it is for spending, a wallet that has a private source code isn't recommended. A wallet that is closed-source but lies to be open-source is much worse. And that's precisely what Trustwallet is doing. Moreover, Binance owns Trustwallet. In other words, Trustwallet isn't to be trusted.

Move your funds from there. Move means you send your funds to another wallet. It isn't using another wallet, a safer one, by importing your seeds from Trustwallet. That would be pointless.

Anyway, https://walletscrutiny.com/ might be of help in choosing which wallet to use next.

[Lucius]

If you are hodling less than $1000 worth of bitcoins, you can use a hot wallet for storage. But if your bitcoins are above $1000 you should buy a hardware wallet and move your coins there.
~snip~

I think that $1000 is still too high a limit to which someone should use hot wallets, and that anything over $500 definitely requires a hardware wallet or some type of cold storage. It should also be taken into account that the value of what we keep can change, so that $1000 worth of BTC can be worth $1500 in a month, and maybe twice as much in 1 year.

The risk of storing in hot wallets (especially mobile wallets) is simply too great, and if someone cannot afford to lose $1000 at any time, then they have no choice but to find another solution as soon as possible.

[satscraper]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

I would advocate Passport 2, the open source, air-gapped and user-friendly hardware wallet  which, in my view is number one, in the class of the personal Bitcoin storage, and I'm not alone who subscribe to such opinion, pretty much everybody in the forum's HW section take this view.

Regarding Trust wallet, i would not credit it with any amount of satoshes due to the number of flaws found in the past (DYOR, and read for the start). Will be found more? Who knows...

[Abu-Naim]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

Trust wallet is good but not completely reliable, it is only safe if your device is safe, once someone get access to your phone or laptop, your wallet can get hacked; it is a closed source hot wallet.
There are better wallets to be used than Trust wallet; Electrum wallet is very good for holding Bitcoin than Trust wallet since in trust wallet you can hold altcoin that are literally not completely safe because even the team can be strange at times; therefore, for easy access, use Electrum or Bluewallet to hold your bitcoin, but if you can afford offline wallets they are perfectly good because any wallet online is prompt to hack.

[lizarder]

Have read several interesting articles on the internet regarding wallets for storing Bitcoin, they mentioned that there are several types of Bitcoin storage, they're hot & cold wallets. Now I only use Trustwallet to store Bitcoin I have. Am I in the right type of wallet to store my Bitcoin?

Honestly, after reading the article I was confused af, need some good input & insight from experts here.

There are many types of wallets available but not all of them have a much better level of security. I have long switched from Trustwallet because there is no much better level of security and instead now I am using Electrum. To make the clamp right or not it must be a consideration and maybe not Trustwallet is the safest wallet to store the bitcoin assets we have. If you want to store bitcoin in the long term then you should learn other wallets because it will be very detrimental when the assets you have are lost.

But if asked to me then you should use the electrum wallet because this wallet is much better than Trustwallet. About the advantages and disadvantages, maybe you can search for the Electrum discussion topic because the forum has discussed this.

[Lucius]

I would advocate Passport 2, the open source, air-gapped and user-friendly hardware wallet  which, in my view is number one, in the class of the personal Bitcoin storage, and I'm not alone who subscribe to such opinion, pretty much everybody in the forum's HW section take this view.
~snip~

I agree that this HW is currently probably the best device that can be bought and that it provides top security. The only "flaws" are its slightly higher price and perhaps a little more complicated use, given that it is an airgapped device that communicates with the selected user interface via QR codes or an SD card.

Maybe for those of us who know a little more, it doesn't seem like a "problem", but beginners and those with less experience might find it more difficult to deal with such a concept.

[hosseinimr93]

Trust wallet is good but not completely reliable, it is only safe if your device is safe, once someone get access to your phone or laptop, your wallet can get hacked; it is a closed source hot wallet.

Your statement saying "it is only safe if your device is safe" is true when talking about a trustworthy open-source wallet like electrum, not about trustwallet.
As you know trustwallet is close-source and we don't know how the keys are generated. So, it's possible that you lose your fund due to vulnerability in trustwallet while your device is safe.

[albon]

I agree that this HW is currently probably the best device that can be bought and that it provides top security. The only "flaws" are its slightly higher price and perhaps a little more complicated use, given that it is an airgapped device that communicates with the selected user interface via QR codes or an SD card.[...]

Using hot wallets is easier and faster than using cold wallets. Most are free to use and offer the same features as cold wallets. However, everyone has their own priorities, preferences, and needs. For example, someone conducting daily transactions would find using hot wallets an ideal choice. On the other hand, someone looking to hold investments for the medium to long term and seeking maximum security would find cold wallets very suitable, regardless of their purchase price.

Electrum and Mycelium are among the best wallets I see as ideal for beginners. It is worth noting that regardless of which wallet the user chooses, he must have sufficient knowledge to secure his seed phrases in a safe place and follow necessary security measures to avoid fraud.

[Woodie]

I have seen this question pop up all over the internet for several years because this isn't a one shoe fits all answer as far as I know!

As a matter of fact different users different usage...if you are a user that will want to leave coins in a wallet for a long time without having to touch them, then a reputable cold wallet is what you looking for ( just remember to have a backup saved somewhere to avoid losing your coins), then for a user that's always sending and receiving coins on a regular basis I think this is an unpopular opinion but you could use a exchange wallet to cut on transaction fees and avoid those conversion fees that you could be exposed to for changing one coin to another   this is based on first hand experience but don't leave your life savings here incase something goes awry with the exchange.. otherwise hot wallets depend on how clean our devices are and should be the most used afaik thanks to their ease of use..

[Hyphen(-)]

Why should you use a Trust wallet when a wallet similar to the Trust wallet that supports more coins such as the Unstoppable wallet is better to use.
Unstoppable wallet open source. The features are many. No matter how good a wallet like unstoppable is, it is categorized as a less secure wallet because it still has access to the internet.

I also wonder why beginners easily go to trust wallets instead of doing research to know how good and reputable the wallet is before attempting to use it. At least it is part of learning before investing, which we expect newbies to have gone through before making any wrong move in cryptocurrency that may likely lead them to losing their money to scammers.
I am not saying that TrustWallet is not good, but it is a closed-source wallet that is easily manipulatable; one can use an unstopable wallet as you suggested; it supports several altcoins; and it is more secure than TrustWallet.

If a newbie wants to hold Bitcoin, I will recommend electrum wallet because it is user friendly and has good features. Although it is also connected to internet but it is more secure and reliable since several people have used it and have testified here in the forum.

[hosseinimr93]

If a newbie wants to hold Bitcoin, I will recommend electrum wallet because it is user friendly and has good features. Although it is also connected to internet but it is more secure and reliable since several people have used it and have testified here in the forum.

Electrum can be used offline and as a cold storage too.
You can create your electrum wallet on an offline device (preferably on an airgapped device) and sign your transactions there.

Take note that you need internet connection only when you want to check new transaction you may have received (so that you can make an unsigned transaction) and when you want to broadcast a transaction.